More foreign oil for U.S.
(N.Z.P. A.-Reuter—Copyright) WASHINGTON, Sept. 20.
President Nixon has sharply increased the volume of foreign oil that can be imported into the United States for the remainder of this year, to meet a threatened" shortage of oil and petrol in the eastern states caused by a levelling-off in domestic' production at a time when demand is rising fast because of economic expansion.
The ceiling price of most oil and petroleum products has been frozen since August of last year, under Mr Nixon’s wage and price controls. The over-all result of the new imports should be to increase by about one-third the volume of foreign oil, mainly from the Middle East, consumed in the last three months of this year.
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Bibliographic details
Press, Volume CXII, Issue 33027, 21 September 1972, Page 8
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123More foreign oil for U.S. Press, Volume CXII, Issue 33027, 21 September 1972, Page 8
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